Moves to boost non-oil sectors such as tourism and financial services could suffer setbacks if hostilities continue

European gas prices have jumped by 30% after some big GCC oil and gas producers cut supplies, and now a vital maritime trade route is being threatened. The stakes have seldom been higher.

Al Majalla lays out three possible scenarios for how the conflict unfolds, along with their associated costs

The Supreme Court has stripped Trump's 'emergency' tariffs of their legal basis, triggering a scramble to recover fiscal losses

A drop in the price of crude these days is nowhere near as painful as it used to be, because most of the Gulf Cooperation Council states have diversified away from hydrocarbons

Many of the big regional energy producers retain strong credit ratings as they boost their borrowing. How the money is spent will determine the wisdom of each approach.

Analysts say Europe-Asia trade could become faster and cheaper if cargo ships use the North-East Arctic Passage as an alternative to the Red Sea, but there are problems to overcome.

The immediate economic impact will be more uncertainty

Iran's vast oil and strategic mineral reserves have moved to the centre of negotiations with the US, which could reshape Trump's calculus

Rising bullion prices, volatile currency markets, and renewed debate over US monetary strategy reflect deepening doubts about Washington's stewardship of the global financial system